Selected 42 promising small and medium-sized enterprises for export… Special guarantee of up to 10 billion won

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Selected 42 promising small and medium-sized enterprises for export… Special guarantee of up to 10 billion won

‘Export Growth Planet’ Inauguration Ceremony… Support for the entire export process, such as financial guarantees and insurance premium discounts

Journalist nameKim Seung-hwan Mobile Reporting Reporter
Input: 2024.07.08 22:52

In order for small and medium-sized companies centered on domestic demand to grow into global export companies, customized support such as special guarantees worth up to 10 billion won and discounts of up to 90% on export insurance and guarantee fees will be promoted.

The Ministry of Trade, Industry and Energy announced on the 8th that the inauguration ceremony of ‘Plan it’, a special trade finance support program for small and medium-sized enterprises with promising exports, was held under the auspices of the Trade Insurance Corporation in the presence of Jeong In-gyo, head of the Trade Negotiation Division.

The inauguration ceremony was attended by more than 100 people, including Moobo President Jang Young-jin, Vice Chairman Lee Ho-jun of the Federation of Mid-sized Enterprises, Vice Chairman Jeong Yun-mo of the Korea Federation of Small and Medium Enterprises, and representatives of small and medium-sized companies.

‘Export Growth Planet’ is a project that provides customized support to small promising and medium-sized companies that are currently focused on domestic demand but have great growth potential as export companies in the future by dividing them into three stages based on their existing export performance .

This year, 42 companies were selected in various fields such as K-food, K-beauty, and defense, as well as main items such as general machinery and auto parts.

For selected companies, special trade finance will be provided for up to 15 years throughout the entire export cycle, including ▲ special guarantee of up to 10 billion won ▲ up to 90% discount on export insurance and guarantee fees ▲ doubling of the insurance pricing limit ▲ credit check of importers, etc.

Jeong In-gyo, head of the Korea Trade Negotiations Division, said, “The role of not only large corporations but also small and medium-sized companies is very important in order to sustain the upward momentum of exports,” adding, “As the basic strength of exporting SMEs and mid-sized enterprises has weakened a lot in the process of recent high interest rates and the reorganization of global supply chains, the government will support the export expansion of SMEs and mid-sized enterprises by concentrating all available capabilities such as finance, marketing, and logistics.”

Jang Young-jin, CEO of Mubo, said, “This Export Growth Planet is an innovative trade insurance program that has never existed before, and we plan to expand the number of companies eligible for support to 100 over the next three years.”

Kim Seung-hwan Mobile Reporting Reporter shkim1031@naver.com